Our view is and has been that audusd will continue to rise LT simply because there are no fundamental reasons that are currently known to cause most investors to shy away from it. We are not aware of any large block of speculators who have any interest in building short positions in the currency.
From a standpoint it is very clear that we are in a chart pattern that has 2 working longs being opposed by 1 working short. Both the Long Term Swing Long as well as the Medium Term Swing Long are still grinding away. The short side of the trade is represented by the Intermediate Swing Short price level.
A range of 1300 pips has been trading for about 18 months and this range could hold for years to come without some fundamental catalyst to break out or down from this price range. Some refer to this as a consolidation or congestion range.
The 2 trades for a long term investor or trader are at these two opposing ranges until there is a breakout from the range..Entry at any other level if trading LT will needlessly increase risk while adding little compensatory value.